Repatriation of Profit from Norway
Repatriation of Profit from NorwayUpdated on Monday 08th May 2017
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According to the investment protection agreements that Norway signed with other numerous countries, an investor has the right to bring his/her sources of profit to their home country. The capital that a foreign investor puts in a Norwegian business is fully and freely remissible, under the reporting provided by the Central Bank and by following the data contained in the annual accounts. Our Norwegian law firm offers counselling regarding the way foreign exchange influences the changes in capital so that you can settle conveniently your profit repatriation decision.
Overview of the Norwegian profits repatriation system
If you open a company in Norway and decide for capital repatriation, you can implement your choice according to the provisions of the local legislation. The procedure implies the conversion of your earnings from Norway in the currency of your country of origin. Our Norwegian lawyers can help you find an advantageous solution for profit repatriation from Norway.
The Financial Action Task Force (FATF) is an inter-governmental body which manages several issues related to the financial system, such as currency exchange regulations and profit repatriation. Norway is a member of the FATF and complies with the recommendations provided by this body.
As a foreign investor you can conclude transactions either in Norwegian krone (NOK) or in foreign currencies, in order to redirect your money in the country of your choice. Business owners should seek specialized advice with Norwegian lawyers when deciding to move their capital from Norway in another country.
More aspects of Norwegian profit repatriation
The Norwegian law does not impose any restrictions on the profits repatriation for foreign investors. Company owners may choose to make payments in their country of origin or perform transfers through bank intermediaries.
After a company owner has payed the due taxes to the local government, he/she may move their share of earnings in a bank account or in an investment in their home country. Certain aspects of this transfer may fall under the double taxation treaties that Norway has signed with other countries.
In order to find out more about the provisions which might apply to your particular situation you are invited to contact our attorneys in Norway for complete information regarding repatriation of profits from this country.